A recovery in new home building is set to stall in 2011, according to a report.
The Housing Industry Association, which represents home builders, said housing starts are likely to fall 3% in 2011, reversing part of the expected 20% rise in 2010, ensuring the industry continues to build homes at a rate far below what is being demanded.
In its quarterly National Outlook Report it said Australia needs to build over 190,000 dwellings in 2010 alone to meet underlying demand. Current estimates put total building at 165,940 houses.